The Short Take:
- Borgata had the highest monthly win per slot machine in Atlantic City, with $11,965 won from every machine on average in October
- All legacy casinos saw a YoY decline in their slot win per machine in October
- After just a few month of operations, Hard Rock is gaining serious slot market share in Atlantic City. In October it controlled over 10% of the slot wins in the city, with over $7,300 won per machine
In earlier articles we touched on the fact that the Atlantic City gaming market saw an 8% overall increase in casino wins in October 2018 versus October 2017 . Further, the casinos’ wins just from slot machines jumped 5.3% YoY in October to over $142.5 million.
As you walk into a casino the first thing you see is row after row of slot machines. So we wondered, if AC casinos made over $142 million in slot wins in October, how much did they win per machine? We’ve put together those numbers for you and the results on a casino by casino basis may be surprising.
First, an explanation on how we came up with the per slot machine win per casino. Atlantic City casinos are required to submit a monthly report to the state of New Jersey. Two figures they must report are the total slot wins for the month and the number of slot machines in the casino. To calculate the win per slot machine we just divide the total slot wins by the number of slot machines. Here is the raw data used in the calculation for October 2018:
|October 2018||Total Slot Wins||# Slot Machines|
The table below shows the win per slot machine for October 2018 on the left. For comparison, we provide the same information from a year ago, October 2017.
The clear winner is Borgata, with almost $12,000 in monthly wins per slot machine. On the downside, Borgata’s October 2018 win per machine decreased by over $1,200 per machine compared to October 2017. In fact, every casino that was open in October 2017 saw a year-over-year decrease in the monthly wins per slot machine.
The most likely reason for this slot win decline for the legacy Atlantic City casinos? The recent openings of Hard Rock and Ocean Resort. Hard Rock won over $15 million from its slot machines, or over $7,300 per machine. After just a few months of opening the doors, Hard Rock controls over 10% of the Atlantic City slot market!
The other newcomer on the Boardwalk, Ocean Resort, is not as large of a threat for the legacy casinos, but it is still another competitor to deal with. In October, Ocean Resort won $8.2 million from its slots, or 5.8% of the AC market. By the way, Ocean Resort had the lowest slot win per machine for the month, coming in at just over $4,200 per machine.
When standing in the middle of a casino you can feel like you’re surrounded by slot machines with hundreds or thousands surrounding you. It’s truly amazing the amount of profit each and every machine makes for the casino!